Trump and the GOP Tax Plan Screwed Middle Class Parents Out of a Refund

Ok, you do pay very high taxes, and those evil republicans are at fault. Feel better now?

 

that could be for any number of reasons & not necassarily because of the new rules ...
without full disclosure, and the fact of your delight in arguing certain individuals (as said by your own words), and your despisement of trump (possibly even hatred), all add up to this being one huge whiney rant for agendas sake...

 

Lets see he said he didn't ask his alleged CPA why his tax liability went up.
Then said his alleged CPA told him his tax liability went up because of the "tax cuts" even though in another thread went on and on about how that would be mathematically impossible.
Then when asked why his tax liability went up due to the "tax cuts" his alleged CPA told him he refuses to say what in them made his tax liability go up.

 

Well, NC surely doesn't fall into the high tax state. Allot people also didn't know that we lost the the mortgage interest deduction of Home equity loans and or second mortgages.

 

Here @rahl , maybe this will help you understand:

Person A withheld $1000. Their taxes due were $400, so their refund was $600.

Person B withheld $500. Their taxes due were $300, so their refund was $200.

Which one paid less taxes? (Answer: Person B.)

Or how about this:

Billy gave his Mommy $20 to buy him a set of legos. The legos were $12, so the change his Mommy gave him was $8.

Meanwhile, Tommy gave his Mommy $15 to buy him a set of legos. Tommy's Mommy found the same set of legos for only $10, and gave Tommy $5 change.

Is Tommy a dumbass if he throws a tantrum that Billy got back $3 more from his Mommy? Or should Tommy realize how much change he got from his Mommy is irrelevant, because he got the same legos as Billy but for less money? (Answer: yes, and yes.)

 

great analogy... superb even...

 

At what rate did they got up? Is it federal? Federal and state or just state??

 

Well it's a work week. You need to get on the phone with your accountant or at least get a copy of your returns so you can understand what happened.

 

So that means you are part of the top 5% of income earners. You're one of the rich! Congratulations!

Don't you think you should be taxed more?

 

So is their tax owed down?

 

He said in the beginning he and his wife's combined earnings were 125K, both full time employed with 2 children.

 

The tax legislation was NEVER INTENDED to benefit the middle class or the poor, so no one should be surprised that it did not help them.It is doing EXACTLY what the wealthy in congress intended, benefitting them and their ilk.

 

Ayuh,..... You, Obviously, haven't read this thread,.......

 

That was one of the worst programs ever devised and goes back to when simple interest was no longer a deduction. Instead of people buying cars or taking vacations on separate loans which did not put the house in hock, they gave up that equity and kept getting underwater on their homes. Even putting mountains of credit card debt, eating out going to movies buying clothes, onto their homes.

 

Until you can state exactly why your tax liability went up, what in the "tax cuts" made your taxes go up your statement has no meaning. It could merely be because you made more money. And since you didn't even have the curiosity to ask you cousin why why do you even mention it here? Go educate yourself on your own taxes and come back and tell us why if you are going to blame them on the tax cuts.

And then reconcile that with your argument that tax dollars can't go up if the rate is decreased.

 

i dont have children, but isnt the child write off an itemized deduction, and would change his taxable gross, not his overall tax bill. when i itemize, schedule a, that just lowers my overall gross.

 

It's a tax credit, not a deduction. A deduction decreases your taxable income, a credit decreases your actual tax.

In other words a $1000 deduction puts $200-300 into your pocket depending on your income bracket, while $1,000 tax credit adds $1,000 to your bottom line.

 

ok, i thought it was a deduction. single and no children gets screwed on taxes.

 

Well, it's very expensive to raise a child too, child credits don't even begin to offset the cost. No need to be jealous, enjoy it while it lasts lol

 

well that is all fine for those people, but it does make the breaks lopsided. i do mine at the end of march beginning of april.

 

more "alternative facts" form the right.....

the left wanted the middle class tax cuts to be ONLY a middle class tax cut, make it bigger for the middle class and permanent - sadly republicans do not want this

 

GOP senators: Dems can help us make individual tax cuts ...
https://www.washingtontimes.com/news/2017/nov/15/gop-dems-help...
Nov 15, 2017 · GOP senators: Dems can help us make individual tax cuts permanent. “However if — once the bill is on the floor — my Democratic colleagues want to offer an amendment to waive the budget act to make the individual rates permanent, they likely won’t get much resistance from the Republican side,” Mr. Hatch said as his committee considered the plan Wednesday.


Republicans Explain Why They Want Permanent Tax Cuts For ...
https://www.huffingtonpost.com/entry/permanent-tax-cuts...
Nov 15, 2017 · Republicans Explain Why They Want Permanent Tax Cuts For Corporations But Not People. The last-minute change, unveiled by Senate Finance Committee Chairman Orrin Hatch (R-Utah) Tuesday night, was made to comply with Senate rules that forbid certain legislation from adding to the federal budget deficit after 10 years.



More like you were caught up with Leftist propaganda. Or you deliberately forgot about that certain legislation from adding to the federal budget deficit after 10 years was the reality that had to be dealt with.

Which one will you cop to?

 

Trump tax cuts?

"Middle Class Dads Freak Out About Trump Tax Hike"

https://www.fatherly.com/news/middle-class-angry-trump-tax-hike/

"2017 taxes = $5,408 refund ...

Unchanged salary, unchanged withholding...

2018 taxes = $440 owed to the IRS.

I’m middle class, single with a $83,085"

 

The withholdings automatically should've gone down, he didn't have to change it. The refund vs owe doesn't mean anything. How much tax was withheld throughout the year. And who's salary doesn't change at all?

The article is definitely leaning left, everything is Trump=bad. It even states the tax cuts eliminated a lot of deductions that middle class families used, but doesn't state what those are. Any idea what deductions we all lost in the middle class?

 

in otherwise Republicans wanted those tax cuts for the corps so badly they screwed the middle class